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UK Market Update : 
UK: Tullett Prebon, Glaxo, RBS, Arriva
Author: Mayank Mehta
123jump.com
Last Update: 1:30 PM ET March 18 2010


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UK stocks traded sideways and the pound edged up against the euro. Tullett Prebon won a judgment against BGC Partners for raiding its worldwide staff. GlaxoSmithKline Plc increased after Novartis left the development of generic drug for asthma treatment to its partner.

 
Premier Farnell plc gained 8.3% to 217.10 pence an electronic and industrial products supplier said 2009 revenues fell 1% to £795.3 million to £804.4 million a year ago. Net profit for the year fell 27.5% to £37.5 million or 10.3 pence per diluted share compared to net profit of £51.7 million or 14.2 pence per share a year ago.

Rolls-Royce Group plc rose 0.5% to 584.00 pence after the power systems developer won its second contract in two years from Gas Authority India Limited to supply power systems for a major gas pipeline project.

Salamander Energy plc decreased 5.1% to 265.20 pence after the oil and gas explorer said 2009 revenues rose 56% to $157.1 million to $100.8 million a year ago. Net loss for the year was $13.5 million or $0.09 per diluted share compared to net loss of $66.5 million or $0.53 per share a year ago.

Savills plc decreased 2.8% to 357.60 pence after the estate agent announced second half underlying revenue declined 1.4% to £560.7 million from £568.5 million a year ago.

SIG plc dropped 5.5% to 120.30 pence and the insulation and roofing firm said 2009 revenues fell 5.5% to £2.74 billion to £2.90 billion a year ago. Net loss for the year was £45.6 million or 9.7 pence per diluted share compared to net profit of £6.3 million or 3.8 pence per share a year ago.

Synergy Health plc rose 2.3% to 632.00 pence after the healthcare outsourcing firm announced that the board intends to pay a second interim dividend of £0.083 per share on April 1, to shareholders on the register on March 26.

FTSE 100 Index Movers

Of the stocks in the FTSE 100 index, 49 increased, 51 declined and 2 were unchanged.

The Royal Bank of Scotland Group Plc decliners in the FTSE 100 index with a loss of 3.15% followed by losses in Lloyds Banking Group Plc of 3.14%, in Vedanta Resources Plc of 2.49%, in Fresnillo Plc of 2.22%, and in Kazakhmys Plc of 2.02%.

GlaxoSmithKline Plc led gainers in the FTSE 100 index with a rise of 3.88% followed by increase in Experian Plc of 2.15%, in Sabmiller Plc of 1.69%, in G4S Plc of 1.68%, and in BG Group Plc of 1.53%.




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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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